UK new car registrations grew for the twenty-first consecutive month in April. Registrations rose by 1% to reach 134,274 units, according to the latest data published by the Society of Motor Manufacturers and Traders (SMMT).
As a result, this was the market’s best April since 2021, although uptake was still -17% below the pre-pandemic level in what is traditionally a low-volume month following the March plate change.
Continuing the trend seen throughout the year, growth was driven entirely by fleets, where registrations rose by 19% to reach 81,207 units. More than six in 10 of all new cars registered in April were to fleet buyers. Private buyer uptake fell by -18% to 50,458 units, while business registrations declined by -16%, to 2,609.
Electrified vehicles continued to be the main source of market expansion. Plug-in Hybrids (PHEVs) recorded the strongest growth, rising by 22% to account for 8% of the market, followed by Hybrid Electric Vehicles (HEVs), up 17% with a 13% share of demand. Battery Electric Vehicle (BEV) uptake rose 11%, pushing up market share to 17%, a significant uplift on last April’s 15%.
Fewer than one in six new BEVs bought in April went to consumers, whose uptake volumes fell by -22%. Based on current conditions, the latest market outlook shows a smaller share for BEVs despite a growing overall new car market. 1.984 million new cars are now anticipated to be registered in 2024 – a 4% rise on last year, and a 0.5% increase on January’s outlook. However, BEV volumes for this year have been revised downwards by -5%, with anticipated market share now 20%.
Meanwhile, UK demand for new light commercial vehicles (LCVs) rose by 5% in April as more businesses invested in the latest models. 23,889 new vans, 4x4s and pickups were registered, the highest total for the month since 2021. Growth across the market was underpinned by the long-term popularity of the largest LCV models (weighing more than 2.5 tonnes to 3.5 tonnes), up 3% to 15,714 units – accounting for two thirds of registrations. Deliveries of medium-sized vans grew by 7% to 4,611 units, while the biggest percentage increase was for the smallest vans, up 41% – albeit still representing just 3% of the market. Pick-up volumes also rose, by 16% to 2,487 units, while deliveries of new 4x4s fell by -18% to 473 units, compared with a particularly strong April last year.
Deliveries of the latest zero emission LCVs declined last month, with new battery electric van (BEV) uptake falling to 861 units, down -42% compared with last year’s uptick in demand. It means BEVs accounted for just 4% of all new LCV registrations compared with 7% in April last year.
Industry’s latest market outlook expects the UK’s new van market to grow by 3% to 353,000 units this year, while BEV market share has been revised to 8%, down from 9% in the January outlook. BEV volumes are still expected to rise by 44% in 2024 to 29,000 units.
More information on the SMMT website.
